Cosco will raise rates on all shipments from the Far East, including Japan, and India and Pakistan regions to the Mediterranean and West Africa, beginning July 1.
The hike will be $450 per 20-foot-equvialent unit for Mediterranean trade and $250 per TEU for West African trade. Maersk Line also plans an Asia-to-West Africa rate increase for July 1.
The container line will also implement a peak season surcharge for all cargo from the Far East and Indian subcontinent to the U.S. and Canada, effective July 15. The surcharge will be $320 per 20-foot container, $400 per 40-foot container, $450 per 40-foot high-cube container and $506 per 45-foot container.